Investors seeking monthly cash flow could consider Canadian stocks that pay dividends every month. Instead of waiting for quarterly or annual payments, investors receive cash regularly, which they can reinvest or use to help cover everyday expenses.
Still, monthly dividends shouldn’t be the main reason to buy a dividend stock. The bigger question is whether the company can consistently generate enough cash to support its payouts. Strong fundamentals, a healthy balance sheet, reliable cash flow, and a history of maintaining payouts matter more than how often it pays.
Against this backdrop, here is a TSX stock that delivers reliable monthly cash. It has a solid dividend payment history and currently offers a yield of around 6.9%.
Source: Getty Images
SmartCentres REIT: A top investment for monthly cash flow
SmartCentres REIT (TSX: SRU.UN) is a top option for investors looking for monthly cash flow. The REIT has a solid history of maintaining its payouts across economic cycles. Its resilient payouts are supported by a diversified real estate portfolio spanning retail and mixed-use properties that generate steady net operating income (NOI).
Its properties are located in high-demand markets. This strategic positioning drives occupancy and leasing activity. The REIT also benefits from a solid tenant base, supporting its rental income and adding stability.
SmartCentres currently distributes $0.15 per unit monthly, translating to a yield of roughly 6.9%. For investors focused on recurring cash flow, the monthly distribution schedule, its high yield, and durable payouts make SmartCentres REIT a compelling option.
SmartCentres’ leasing strength supports continued operating momentum
SmartCentres REIT delivered a solid performance in the first half of 2026, reflecting the resilience of its retail portfolio. Strong leasing activity suggests demand for its well-located retail properties remains strong, driving NOI and supporting payouts.
As of June 30, 2026, SmartCentres REIT’s portfolio occupancy stood at 98.1%. The high occupancy indicates that tenant demand remains solid. Strong leasing activity and higher rents supported its NOI and funds from operations (FFO).
Another positive indicator is the REIT’s progress on lease expiries scheduled for 2026. SmartCentres had already renewed approximately 86% of these leases by June 30. More importantly, excluding anchor tenants, the renewed agreements generated an average rental uplift of 12%. This increase points to meaningful pricing power within the portfolio and suggests that SmartCentres is not merely driving occupancy but is also capturing higher rental income from existing locations.
Overall, the high occupancy rate, strong tenant retention and double-digit rental growth on renewals indicate that SmartCentres’ retail portfolio continues to demonstrate considerable operating resilience. With leasing conditions expected to remain favourable, these trends could provide a solid foundation for sustained NOI and FFO growth in the quarters ahead.
The bottom line
SmartCentres REIT is well-positioned to sustain its monthly distributions. The strong demand for its retail-focused portfolio, high occupancy, solid ongoing leasing activity, and the ability to achieve higher rents will enable it to sustain its payouts.
Further, the REIT also has a substantial land base and a significant pipeline of mixed-use development projects. These opportunities provide multiple avenues for future growth. As these development opportunities are advanced and monetized, they could contribute additional income and support its monthly payouts.
